Mirvac to continue its legacy of landmark residential addresses in Melbourne

24th May 2022

Award-winning Australian property group, Mirvac, has increased its residential footprint in Melbourne, with the acquisition of 31 Queens Road, Melbourne a premium apartment site located on the fringe of Melbourne’s CBD.

With planning permits in place, the 2,320 square metre site presents Mirvac with a rare opportunity to develop a prestige boutique residential building that takes advantage of uninterrupted park and city views. Just a short stroll from Mirvac’s award-winning, legacy building, The Melburnian, the Queens Road site fronts Albert Park, with views to Port Philip Bay and beyond. An array of nearby cultural amenity includes Melbourne Theatre & Arts Precincts, Albert Park Lake and Golf Course, Fawkner Park, Domain Road dining, and the trendy St Kilda entertainment mecca. The Alfred Hospital and public transport links are also in close proximity. 

Mirvac’s Head of Residential, Stuart Penklis, said the acquisition aligned with the Group’s strategy to secure well-located sites in established and high-performing markets.

“Since 1994, Mirvac has made a significant contribution towards Melbourne’s urban landscape, delivering a number of high-quality residential projects on Melbourne’s city fringe and throughout the suburban middle ring. Along with The Melburnian, these include the iconic Beacon Cove, and the more recent Yarra’s Edge and The Eastbourne developments. The acquisition at 31 Queens Road builds on this legacy and is expected to again set a new benchmark for quality design and development in Melbourne”, he said.

“Our purchase of this site also comes at a time when we are seeing increased demand from owner-occupiers and right-sizers for city fringe apartments, with the high-quality amenity and associated lifestyle providing an attractive value proposition. Forecast supply constraints in the east coast apartment market are also expected to support demand in the near-to-medium term.”

Comprising approximately 110 apartments across 15 levels, the building is planned to feature an exclusive residents’ pool, gym, and residents lounge. Sustainability will also be a key pillar of the project’s value proposition for future residents, cementing Mirvac’s leadership position in this space.

“As part of our sustainability focus and our commitment to having a positive environmental impact, 
31 Queens Road has been designed to be all-electric, with a 7-star average NAThers rating and designed to 5 Star Green Star– which represents Australian Excellence - being targeted”, said Elysa Anderson, Mirvac’s General Manager, Residential – Victoria.

“We expect that our focus on superior design through quality and care in every detail, sustainability, and premium amenity at 31 Queens Road, along with its prime location, proximity to Melbourne CBD, parks, and other social infrastructure, will elevate the living experience for our residents”, she said.

Construction at 31 Queens Road is expected to commence mid-2023, with settlements expected to occur in FY26.

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Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.